Trouble interpreting price/volume/support/resistance
- Thread starter abxs
- Start date
Market noise is amplified on 2 minute charts. Just looking at them at all will churn your emotions and run you out of a good trades early, or cause you to overtrade by sucking you in to trades at bad spots in the context of the big picture.
Do you have any concept of what accumulation patterns look like? or distribution patterns?, or continuation patterns?
Support and resistance comes in several flavors. The support you find after price has dropped off a cliff is quite different from the kind where price drops back into a solid base. Do you know the difference? You will need to in order to survive.
abxs,
With your above question you will attract a lot of kindly souls pretending to come to your assistance with all kind of advice. Not unlike with "I can't find the Trend" questions.
I hope you get the answers you are looking for. All council I can offer you is to work much harder and to find out for yourself. Among the few that know, nobody is going to offer "free tricks" that will make money for you.
Ah, trading philosophy from the Hallmark Card dept. That's what this thread really needs, not specific analyses of these charts in reply to your specific inquiries, but more pithy bromides, generalized and trite. "There are many paths to knowledge..."
Nobody really "finds out for themselves". Nobody. Not Shakespeare, Mozart, or Einstein. Every student takes something from what has gone before, what has already been learned by others. That is education. There is nothing truly "new" in anything: art, business, sport, culture, science; it's all been done before many yrs ago. You may indeed take "it" someplace else, w/unique qualities, but this will always be built on that ever-evolving well-established knowledge-base. It is that previous knowledge that frees one to explore, because you need to know the rules before you can follow, stretch, or even break them. Where and how you get your information, and what you choose to regard or ignore, is up to you, that's just part of the process of learning.
H
hcour,
You obviously have still some way to travel.
Nothing in my post contradicts what you seem to understand under "learning".
My: "All council I can offer you is to work much harder and to find out for yourself."
simply implies what you call learning. I can assure you though that you will have to do this all by yourself. No objection if studying Shakespeare, Mozart, or Einstein will enable you to better squeeze money out of markets.
